Overall Market Backdrop, February:
- U.S stock markets rallied as the S&P 500 and Nasdaq concluded with the most robust February performance in nearly a decade, as investors processed pivotal inflation metrics.
- In January 2024, the UK’s inflation rate held steady at 4.0%, holding close to the two-year low recorded in November and falling below market expectations of 4.2%.
- It looks ever more likely that the U.S presidential race, which will culminate in election day on 5th November this year, will be contested between President Joe Biden and Republican candidate Donald Trump, who this week won a landslide in the Michigan Republican primary with 68.1% of the vote.